Foreign Bank Deposits & Credit Card Expenses Not Taxable for NRI: ITAT Chennai

Advertisement ACIT Vs Paul Dhinakaran (ITAT Chennai) The case concerns four appeals filed by the Revenue and four cross-objections filed by the assessee for Assessment Years (AYs) 2015-16 to 2018-19, arising from the orders of the Commissioner of Income Tax (Appeals), Chennai. The core issue was the determination of the residential status of the assessee under section 6(1) of the Income-tax Act, 1961, and the consequent taxability of foreign income. Due to identical facts and common issues, the ITAT dealt with the appeals collectively, taking AY 2015-16 as the lead case. The assessee filed ...